shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » DESPITE FAILURE TO SIGN 3 MANDATORY PROTOCOLS: AfCFTA Official Says No Impediments To Take-Off In Nigeria

DESPITE FAILURE TO SIGN 3 MANDATORY PROTOCOLS: AfCFTA Official Says No Impediments To Take-Off In Nigeria

by Joshua
September 13, 2021
in Featured, News

African Continental Free Trade Agreement (AfCFTA) Co-champion on Transportation in Nigeria, Ms Funmi Folorunso, said there are no impediments to the take-off of AfCFTA in the country, even as she insisted that Nigeria has gone pass the sensitization stage.

 

AfCFTA Secretariat

Shipping Position Daily had reported recently that, even though Nigeria endorsed the African Continental Free Trade Area (AfCFTA) very late, her active participation is currently endangered.

This is because the nation is yet to ratify all of the six mandatory protocols that are needed for all participatory countries under the terms and conditions.

The six protocols are: Trade in goods protocol, Trade in services protocol, Dispute resolution Protocol, Intellectual property protocol, investment policy protocol and Completion policy protocol.

It was confirmed that, Nigeria has only managed to ratify three of the six protocols, eight months after the AfCFTA kick-started.

Nigeria has only ratified: Trade in goods protocol, Trade in service protocol, and Dispute resolution protocol, but has failed in ratifying the Intellectual protocol, Investment policy protocol and Completion Policy Protocol.

But, sounding positive, AfCFTA Co-champion on Transportation in Nigeria, Ms Folorunso, said there was no cause for worries.

Speaking with our correspondent exclusively recently, during the National Executive Committee (NEC) meeting of the Association of Nigeria Licensed Customs Agents (ANLCA) in Lagos, she described the present stage as a call to action and draft implementation plan stage.

Folorunso stated that AfCFTA, if well-harnessed in the transport sector has the potential to create a two trillion figure market, adding that for every stage of each transaction AfCFTA is creating employment.

Shipping Position Daily recalls that the United Nations Economic Commission for Africa had estimated that the agreement will boost intra-African trade by 52 percent by 2022. The global body also predicted that with a successful implementation, there is potential for Africa’s manufacturing sector to double in size from US$500 billion in 2015 to US$1 trillion in 2025, creating about 14 million stable jobs.

Meanwhile, the United Nations Conference on Trade and Development (UNCTAD) in a new report titled: “Implications of the African Continental Free Trade Area for Trade and Biodiversity: Policy and Regulatory Recommendations”, stated that the new regime is facing some critical challenges which needed to be eliminated urgently.

It noted that unharmonized or burdensome non-tariff measures (NTMs) can dramatically restrict market entry, limiting the ability of countries to reap economic, social and environmental gains from trade in sustainably produced biodiversity-based goods and services.

NTMs are defined by UNCTAD as “policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices or both”.

Read Also:  CRFFN Election: ANLCA, NCMDLCA Others Jittery Over NAGAFF Move To Dominate Council 

UNCTAD also noted that the Intellectual Property Rights (IPRs) and institutional and legal landscape in Africa is complex, and IPRs issues may be challenging to negotiate at a continental level.

The UNCTAD also warned that Africa is yet to come up with a mode of payment that will be generally accepted by all nations.

However, reacting to these challenges Ms. Folorunso stated that the National Action Committee of AFCFTA is already looking into all of the issues that a general mode of payment for AFCFTA will soon be determined.

“They are not impediments, European Union was not a day’s event it took a long time to mature, we have financial service unit just like we have transportation in National Action Committee, so they are looking at that issue of payment mode, even AfCFTA itself based in Ghana is also looking at universal form of payment. It is not something that can happen today or tomorrow, it is a constant thing that we involve, please let’s be patient, but let’s keep talking”, she said.

shippingposition

Kindly like us on Facebook


Tags: AfCFTAMs Funmi Folorunso

Related Posts

NPA Berths First Wholly Nigerian-Owned Container Vessel, MV Ocean Dragon

NPA Berths First Wholly Nigerian-Owned Container Vessel, MV Ocean Dragon

July 5, 2025
NRC Resumes Train Services On Kano-Minna Route Before Dec. – MD

NRC Resumes Train Services On Kano-Minna Route Before Dec. – MD

July 5, 2025
Seme Customs Engages Media, Opinion Leader, to Strengthen National Security

Seme Customs Engages Media, Opinion Leader, to Strengthen National Security

July 5, 2025
Oyetola Pushes Maritime Revolution at TAAM 7.0, Unveils Innovation-Driven Reform Plan

Oyetola Pushes Maritime Revolution at TAAM 7.0, Unveils Innovation-Driven Reform Plan

July 4, 2025

Discussion about this post

Latest News

NPA Berths First Wholly Nigerian-Owned Container Vessel, MV Ocean Dragon

NPA Berths First Wholly Nigerian-Owned Container Vessel, MV Ocean Dragon

July 5, 2025

NRC Resumes Train Services On Kano-Minna Route Before Dec. – MD

Seme Customs Engages Media, Opinion Leader, to Strengthen National Security

Oyetola Pushes Maritime Revolution at TAAM 7.0, Unveils Innovation-Driven Reform Plan

Nigeria Maintains Zero Piracy In 3 Years-Oyetola

Tin Can Customs Rakes In ₦747bn In 6 Months

Customs Intercepts 2,693 Parcels Of Hemp In Ogun

NRC To Restore Offa Train Service Before End Of 2025 – Opeifa

Customs CG Honoured by Officers as Chairperson of the WCO Council

Customs CG Donates 13 Vehicles To Customs Idiroko Command

Apapa Customs Seals Three Bonded Terminals, Seizes 27 Containers in Anti-Smuggling Crackdown

Clarion Shipping Unveils Nigeria’s First Indigenous Container Vessel, Targets West African, China-Nigeria Trade Routes

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver The liver is a vital organ located in the right upper abdomen, playing a crucial role in metabolism, detoxification, and digestion. It’s the largest solid organ in the body and is responsible for filtering blood, maintaining blood sugar levels, regulating clotting, and synthesizing essential proteins. The liver also stores energy, removes toxins, and produces bile, which aids in digestion Liver functions: · Metabolism and Detoxification: The liver processes nutrients from the blood, breaks down and balances them, and creates essential substances for the body. It detoxifies harmful substances like drugs and alcohol, converting them into less toxic forms for excretion. The liver plays a role in the metabolism of proteins, carbohydrates, and fats. It stores glycogen (a form of glucose) and vitamins, releasing them when the body needs them. · Digestion: The liver produces bile, which is stored in the gallbladder and released into the small intestine to help digest fats. Bile also helps in the absorption of fat-soluble vitamins. · Blood Regulation: The liver regulates blood sugar levels by storing and releasing glucose. It synthesizes clotting factors, which are essential for blood clotting. It removes old red blood cells and processes bilirubin, a byproduct of red blood cell breakdown. · Other Functions: The liver plays a role in immunity, helping to fight off infections. It produces proteins that are involved in the immune response. The liver also stores iron and other essential minerals. Frequently Asked Questions About The Liver · What are the first signs of a bad liver? The initial signs of liver problems can be vague and subtle, often including fatigue, nausea, and loss of appetite. As the liver’s condition worsens, more specific symptoms may emerge, such as jaundice (yellowing of the skin and eyes), itchy skin, dark urine, and light-colored stools. Abdominal pain, especially in the upper right quadrant, can also indicate liver issues. · Where do you feel liver pain? Liver pain is typically felt in the upper right abdomen, just beneath the rib cage. It can manifest as a dull, throbbing pain, a stabbing sensation, or a general feeling of discomfort in that area. In some cases, liver pain might be felt as an ache in the right shoulder or back. · What does liver pain feel like? How liver pain feels can vary from person to person, depending on the cause. However, most people often develop one or more of the following symptoms: Dull, persistent aches in the upper abdomen A feeling of fullness or bloating Sharp, stabbing pains that come and go Tenderness when the upper abdomen is touched · What is the best way to cleanse your liver? If you haven’t been working out, start indulging in a regular exercise regime to allow the toxins to come out of your body. Yoga, going running, hitting the gym, or a simple sauna session can also prove effective. If you want a natural liver cleanse, sweating is the way to go. · How to know if the liver is swollen? What are the symptoms of an enlarged liver? You likely won’t notice an enlarged liver on your own. In some severe cases, you might notice a feeling of bloating or fullness in your belly or an ache in your upper right abdomen. · What is the best drink to flush your liver? Many citrus fruits, including lemon, can be added to water to help stimulate and flush out the liver. Lemons are high in nutrients like vitamin C and antioxidants

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition